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Lithium Balance considers Portland

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High Five
Friday, March 11, 2011

Lithium Balance, based in Denmark, is considering Portland as the potential site for its U.S. headquarters.

Lithium Balance builds lithium batteries for industrial, military and consumer vehicles and for battery packs and power backups. The company was founded in 2006 with about $6.9 million from Danish energy giant DONG Energy and private investors, including CEO Lars Barkler. It had annual sales of $1.2 million in 2010, and approximately $1 million in 2009. The sales stem from about 100 consumer pilot projects, for which production ramps up this year.

"That would be great if they came here, absolutely great," said Tim Miller, president of the board of electric vehicle cluster group Drive Oregon. Miller said Oregon has a small roster of battery development and management companies that would benefit from additional expertise from Lithium Balance and the talent the company would bring. He added electric vehicle companies would also benefit. "They would bring lots of engineering experience for the pack that you wrap around the battery – the battery management system and controller," he said.

Read more at Sustainable Business Oregon.

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